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  • 新特性

Candles Powers Indicator

This indicator paints candles in a different color, depending on how strong the movement to sell or buy was. It can signal when there is a high probability of the continuation of a trend that has formed a little earlier. Has the ability to use several methods for analyzing the strength of movement by candlelight. It can use both the last closed candle and several (CountCandlesInRow) to enter the trade. It has many settings for the analysis of candles.

Input parameters

  • MinHighLow - minimum length (except for the next parameter) of the last closed candle for the signal;
  • MinHLFactorForADX - calculation coefficient minimum length of the candle, depending on ADX (0 - not used);
  • PowerCandlesMethod - methods for calculating the power of candles;
  • MinimumStrengthForAllMethods - minimum signal strength (number of signals) when all calculation methods are enabled (1-5);
  • CandlesFactor - coefficient for calculating the power of candles (recommended from 0.5 to 5);
  • CountCandles - the number of candles for calculations and finding the average length (recommended from 10 to 100);
  • CountCandlesInRow - the number of candles in a row, where each new one is stronger than the previous one (recommended from 1 to 5);
  • Count volume candles - the number of candles for calculating volumes (recommended from 5 to 100);
  • CandlesVolumeAverage - enable calculation of the average value of volumes;
  • CandlesVolumeFactor - coefficient for calculating the volume of candles;
  • ADXForStrengthPower - period of the ADX indicator for correction of CandlesFactor coefficients (0 - do not use);
  • ADXPeriodForCalculations - period of the ADX indicator for calculating signal strength;
  • MinADXLevel - minimum required level of the ADX indicator;
  • MaxDrawCandles - the maximum number of candles for coloring;
  • ColorBuy - buy candle color;
  • ColorSell - color of a candle for sale;
  • ColorNoSignal - color of a candle without a signal;
  • DrawNoSignals - color candles without a signal or not;
  • EnableAlerts - enable or disable alerts when signals appear.

If you need automatic trading based on this indicator, you can use the Max Candles Power Expert Advisor:

https://www.mql5.com/en/market/product/42154

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版本 1.1 2019.10.02
Information added